FRAAZO Raises Funding $11M Round Led By Sixth Sense Ventures, NABVENTURES, And Others
- ByStartupStory | July 2, 2021
D2C brand FRAAZO raises funding $11 million Series A financing round of equity funding led by Sixth Sense Ventures. The round also saw participation from NABARD-backed NABVENTURES and existing investors Equanimity Ventures; Manish Choksi, Vice Chairman and member of the Board of Directors of Asian Paints Limited; and Apar Group. Wih the amount raised they plan to expand operations pan-India, while cashing in on the unprecedented digital adoption within the fragmented fresh food market. Atul Kumar, Co-founder and CEO, FRAAZO said about FRAAZO raises funding, “We are thrilled by the support of ambitious and successful investors who see the disruptive potential of technology in building D2C brands.”
With a data-driven demand forecasting engine, FRAAZO is able to accurately match demand and supply for every catchment, thereby reducing supply chain losses, improving farmer income, and offering daily savings to its customers. FRAAZO aims to become India’s leading fruits and vegetables player, with a capability to deliver fresh produce to a customer’s doorstep within 15 minutes of ordering.
Further, Nikhil Vora, Founder and CEO, Sixth Sense Ventures, said regrading the investment, “With a frequency-driven model, supply-chain moat, and a remarkable cross-functional team, coupled with product extensions to drive higher AOVs, FRAAZO is poised to dominate the perishables space. FRAAZO meets our sweet spot of investing in super scalable spaces, first-gen founders with a highly motivated entrepreneurial team, leveraging the change in behaviour of the evolved Consumers of Tomorrow!”
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